Nexxen International (NASDAQ:NEXN) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $9.00 and traded as high as $9.10. Nexxen International shares last traded at $9.07, with a volume of 852,480 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC increased their price target on Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group boosted their price objective on Nexxen International from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Royal Bank Of Canada upped their target price on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.89.

Nexxen International Stock Up 2.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $516.55 million, a price-to-earnings ratio of 41.23 and a beta of 1.65. The stock’s fifty day moving average is $9.00 and its two-hundred day moving average is $8.30.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $100.52 million for the quarter, compared to analysts’ expectations of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. Sell-side analysts predict that Nexxen International Ltd. Sponsored ADR will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Nexxen International

In other news, Director Daniel Kerstein sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the transaction, the director owned 34,678 shares in the company, valued at $359,957.64. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Nexxen International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in Nexxen International during the 2nd quarter valued at $826,000. Ritholtz Wealth Management bought a new stake in shares of Nexxen International in the 3rd quarter worth $406,000. CenterBook Partners LP bought a new stake in shares of Nexxen International in the 3rd quarter worth $298,000. SteelPeak Wealth LLC bought a new stake in shares of Nexxen International in the 3rd quarter worth $188,000. Finally, Brandywine Trust Co. purchased a new stake in shares of Nexxen International in the second quarter valued at about $143,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.